TKG Advisors LLC purchased a new stake in shares of Southern Copper Co. (NYSE:SCCO – Get Rating) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 24,295 shares of the basic materials company's stock, valued at approximately $1,210,000.
Several other hedge funds have also added to or reduced their stakes in the business. National Asset Management Inc. boosted its position in Southern Copper by 1.6% during the 1st quarter. National Asset Management Inc. now owns 10,649 shares of the basic materials company's stock worth $809,000 after buying an additional 164 shares during the period. Mutual Advisors LLC boosted its position in Southern Copper by 3.6% during the 4th quarter. Mutual Advisors LLC now owns 5,186 shares of the basic materials company's stock worth $320,000 after buying an additional 180 shares during the period. Captrust Financial Advisors boosted its position in Southern Copper by 4.6% during the 1st quarter. Captrust Financial Advisors now owns 4,488 shares of the basic materials company's stock worth $341,000 after buying an additional 196 shares during the period. Xponance Inc. lifted its position in shares of Southern Copper by 2.8% in the 1st quarter. Xponance Inc. now owns 8,788 shares of the basic materials company's stock worth $667,000 after purchasing an additional 238 shares during the period. Finally, Advisory Services Network LLC lifted its position in shares of Southern Copper by 5.0% in the 1st quarter. Advisory Services Network LLC now owns 5,144 shares of the basic materials company's stock worth $390,000 after purchasing an additional 243 shares during the period. 7.15% of the stock is currently owned by institutional investors and hedge funds.
Get Southern Copper alerts:Southern Copper Price Performance
Shares of Southern Copper stock traded up $0.21 on Thursday, reaching $45.57. The stock had a trading volume of 1,220,964 shares, compared to its average volume of 1,341,204. Southern Copper Co. has a 1 year low of $44.31 and a 1 year high of $79.32. The company has a market cap of $35.23 billion, a P/E ratio of 12.00, a price-to-earnings-growth ratio of 1.99 and a beta of 1.12. The company has a current ratio of 3.29, a quick ratio of 2.58 and a debt-to-equity ratio of 0.81. The business's 50 day moving average is $47.92 and its two-hundred day moving average is $58.25.
Southern Copper Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Investors of record on Thursday, August 11th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 6.58%. The ex-dividend date was Wednesday, August 10th. Southern Copper's dividend payout ratio (DPR) is 79.37%.Analysts Set New Price Targets
SCCO has been the topic of a number of recent analyst reports. Wolfe Research downgraded shares of Southern Copper from a "peer perform" rating to an "underperform" rating in a research report on Thursday, July 7th. StockNews.com downgraded shares of Southern Copper from a "buy" rating to a "hold" rating in a research report on Saturday, August 6th. The Goldman Sachs Group initiated coverage on shares of Southern Copper in a research report on Friday, August 5th. They set a "neutral" rating and a $65.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Southern Copper in a research report on Wednesday, September 14th. They set a "hold" rating and a $47.00 target price on the stock. Finally, Barclays dropped their target price on shares of Southern Copper to $50.00 in a research report on Tuesday, August 9th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $53.17.
About Southern Copper
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Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc and lead.
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